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EXCHANGE OPINION
In 2006, CLS is planning to introduce services for non-deliverable forwards (NDFs) and over-the-counter (OTC) options. Big relief on the pain, operational risk and cost fronts. Design is not complete and there are two areas of massive importance that FX business managers ought to get themselves involved in.
Firstly, for NDFs, there is the issue of the long-form confirm. CLS can and will offer a matching and settlement service. To successfully do that, there needs to be a master agreement in
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